Form 4: Micron CEO Sanjay Mehrotra Executes Stock Options and Sells Shares Under 10b5-1 Plan

Micron's CEO, Sanjay Mehrotra, exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• On April 15 and 16, 2024, Sanjay Mehrotra, CEO and President of Micron Technology, engaged in transactions involving the company's common stock.
• Mehrotra exercised 7,000 non-qualified stock options at a price of $28.20 per share on April 16, 2024.
• He then sold 1,568 shares at a weighted average price of $119.31, 2,754 shares at $120.75, and 2,678 shares at $121.47 on the same day.
• These transactions were executed automatically under a Rule 10b5-1 trading plan adopted on May 15, 2023.
• Additionally, 9,508 shares were withheld on April 15, 2024, to cover tax obligations related to vesting awards at a price of $122.52.
• Following these transactions, Mehrotra directly owns 719,049 shares of common stock and indirectly owns 371,629 shares through a Grantor Retained Annuity Trust (GRAT).

Sentiment

Score: 6

Explanation: The sentiment is neutral as the transactions were part of a pre-planned trading strategy. There is no indication of positive or negative implications for the company's performance.

Positives

• The transactions were executed under a pre-arranged 10b5-1 trading plan, which can reassure investors that the sales were not based on insider information.

Industry Context

Executive stock transactions are common and closely monitored in the semiconductor industry. Sales under 10b5-1 plans are generally viewed as less impactful than discretionary sales.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the 10b5-1 plan mitigates concerns about insider trading.

Key Dates